Cincinnati Bearcats. The American logo in Cincinnati's colors. The Cincinnati Bearcats are the athletic teams that represent the University of Cincinnati. The teams are members of the American Athletic Conference (The American), which from 1979 to 2013 was known as the Big East Conference.
You must reduce the basis of property by the depreciation allowed or allowable, whichever is greater. Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). Depreciation allowable is depreciation you are entitled to deduct.
Election to reduce the basis of depreciable property before reducing other tax attributes.(p10) You can elect to reduce the bases of depreciable property you held at the beginning of 2016 before reducing other tax attributes. You can reduce the basis of this property by all or part of the canceled debt. Basis of property is reduced in the following order.